Essar Steel to double its revenue by FY14 to Rs 40,000 crore

10 Apr 2012 Evaluate

Essar Steel is aiming to double its revenue to Rs 40,000 crore in 2013-14 from Rs 18,000-20,000 crore in 2011-12 following the expansion of capacity at Hazira steel plant in Gujarat by FY14. The company has also commissioned a 6 million tonne pellet making facility in Odisha, which is the first phase of the 12 million tonne pellet plant to be set up by 2013.

Further, the company has invested Rs 4,200 crore to set up an integrated facility as part of its ongoing investments in Odisha. It has already invested over Rs 37,500 crore in expansion of Hazira facility to create the largest flat steel plant in a single location.

The Odisha facility comprises 12 million tonne per annum iron ore beneficiation plant at Dabuna and a 253 km slurry pipe line connecting Dabuna and Paradip. While, the pellet plant in Paradip along with the Visakhapatnam plant’s capacity of 8 million tonne per annum will fully secure the iron ore requirements for Essar Steel.

Peers
Company Name CMP
Tata Steel 142.80
JSW Steel 976.80
SAIL 112.70
Jindal Stainless 671.75
Jindal Saw 296.70
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